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  • 06:20:13 pm on March 25, 2010 | 0
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    How to Gauge Your Middle-Class Status

    Assessing Your Middle-Class Status

    Despite the so-called recovery, many families continue to struggle, with income and other living standards slipping below thresholds that typically represent middle-class quality of life. We’ve assembled a variety of metrics to help determine whether you’re getting ahead, holding steady, or slipping further than most.

    Income

    For the 50 percent of families in the middle of the scale, household income ranges from $51,000 to $123,000 for a typical four-person, two-parent family. The median is about $81,000. Those numbers are from 2008, and have probably fallen 5 to 7 percent since then, on account of the recession. Median income for a single-parent, two-child family is about $25,000.

    Housing Costs
    For two-parent families, the typical home is worth about $231,000, accounting for $17,600 in mortgage payments and other costs per year. Housing costs have risen by more than twice as much as income since 1990, a trend that may finally be reversing thanks to the housing bust.

    read more http://finance.yahoo.com/banking-budgetingk/article/109155/how-to-gauge-your-middle-class-status?mod=bb-budgeting

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